ECONOMY

Does Congress Have Enough Political Will To Reduce The Debt?

When the bipartisan budget deal was announced in December, supporters heralded cuts that would balance spending increases — among them, a slight reduction to the pensions of working-age military retirees. But a bipartisan consensus emerged to undo it — calling into the question whether Congress has the political will necessary to make any cuts that reduce the long-term debt.

GOP Still Looking At Pieces Of Debt Limit 'Puzzle'

Friday is the statutory deadline for the Treasury's borrowing authority, but Congress has no agreement on how to raise the limit. House Republicans appear unwilling to force another showdown over the debt ceiling, but they have not yet found a way to save face, and there are few legislative days left before Treasury exhausts its means to pay the bills.